Toyota acquires U.S. map and road data company to expand driverless technology Reuters

Authors: Eimi Yamamitsu and Maki Shiraki

Tokyo (Reuters)- Toyota Motor (NYSE:) Corp said on Thursday that it acquired Carmera, a U.S.-based driverless car map and data provider, marking the Japanese automaker’s latest investment in autonomous driving technology.

The acquisition was made through a newly formed subsidiary Woven Planet for an undisclosed amount, highlighting Toyota’s efforts to expand its self-driving arsenal, as traditional automakers are competing with companies including Apple (NASDAQ:) and The self-driving ambitions of technology giants such as Amazon (NASDAQ:) are competing.

The two companies said in a statement that the purchase of Carmera will enable Toyota to obtain real-time, high-definition maps and crowdsourced input, which are essential for self-driving cars to locate and navigate.

The two companies have been collaborating on projects since 2018, including technology to accurately update lane markings redrawn on high-definition maps.

“This fits very well with our global expansion as a company,” Woven Planet CEO James Kuffner said in an interview with Reuters on Wednesday.

Kuffner said that through this acquisition, Woven Planet will seek to develop and sell an open map platform to OEMs and automakers who need accurate and fresh data.

“With Carmera, we are just accelerating. We will continue to accelerate…and look for strategic partners or acquisitions,” Kuffner said, adding that he hopes to expand the scale of Woven Planet in the next few years “Double or quadruple” year through organic growth and acquisitions.

Earlier this year, Toyota acquired a ride-hailing service elevator Inc (NASDAQ:)’s self-driving technology division invested US$550 million in Ridecell, which provides automation for fleet operations.

The Japanese company has other autonomous driving partnerships, including a joint venture with SoftBank, shares of China’s Didi Global and Singapore’s Grab, and is forming a partnership with General Motors (NYSE:), suppliers, and chip manufacturers Consortium.

Entering new and non-traditional automotive manufacturing fields such as driverless and electric technologies, Toyota is increasingly combining its legendary manufacturing process with recently acquired startups and Silicon Valley proprietary technologies to develop next-generation vehicles.

“There is too much uncertainty in the automotive field now,” Kuffner said.

“But the only thing I can be sure of is that it will look very different in 10 or 30 years. The only thing we can do is to try to create the future through investment… Get profit from Toyota’s existing business and invest in the future to create The future of the Toyota Group.”

Most automakers, including Toyota, provide level 2 automation, car steering and acceleration, but the driver must be ready to drive. Experts say that fully autonomous vehicles will take several years.

Nonetheless, Tesla (NASDAQ:) CEO Elon Musk promised earlier this month that a beta version of its technology will be launched within “about a month,” and the technology will support no driving. Fully automatic driving with operator intervention. Earlier this year, Toyota’s competitor, General Motors, showed off a fully autonomous, fully electric flying Cadillac concept car.